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Report
GOVERNMENT FINANCE STATISTICS
THE BALANCE SHEET
Part 2
This chapter describes the classification of
assets and liabilities and defines the various
balance sheet memorandum items. It also
provides references to texts on compilation
of public sector debt tables.
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Copyright 2010, The World Bank Group. All Rights Reserved.
GOVERNMENT FINANCE STATISTICS
CLASSIFICATION OF ASSETS AND LIABILITIES
• At the first level of classification, there are four categories
of nonfinancial assets: fixed assets, inventories, valuables , and
nonproduced assets.
• Fixed assets are produced assets that are used repeatedly or
continuously in production processes for more than one year.
• Inventories are goods and services held by producers for sale, use in
production, or other use at a later date.
• Valuables are produced goods of considerable value acquired and held
primarily as stores of value.
• Nonproduced assets consist of tangible, naturally occurring assets,
and intangible nonproduced assets.
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Copyright 2010, The World Bank Group. All Rights Reserved.
GOVERNMENT FINANCE STATISTICS
CLASSIFICATION OF FIXED ASSETS
611 Fixed assets
6111 Buildings and structures
61111 Dwellings
61112 Nonresidential buildings
61113 Other structures
6112 Machinery and equipment
61121 Transport equipment
61122 Other machinery and equipment
6113 Other fixed assets
61131 Cultivated assets
61132 Intangible fixed assets
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Copyright 2010, The World Bank Group. All Rights Reserved.
GOVERNMENT FINANCE STATISTICS
CLASSIFICATION OF BUILDINGS AND STRUCTURES
6111 Buildings and structures
61111 Dwellings
61112 Nonresidential buildings
61113 Other structures
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Copyright 2010, The World Bank Group. All Rights Reserved.
GOVERNMENT FINANCE STATISTICS
CLASSIFICATION OF MACHINERY AND EQUIPMENT
6112 Machinery and equipment
61121 Transport equipment
61122 Other machinery and equipment
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Copyright 2010, The World Bank Group. All Rights Reserved.
GOVERNMENT FINANCE STATISTICS
CLASSIFICATION OF OTHER FIXED ASSETS
6113 Other fixed assets
61131 Cultivated assets
61132 Intangible fixed assets
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Copyright 2010, The World Bank Group. All Rights Reserved.
GOVERNMENT FINANCE STATISTICS
CLASSIFICATION OF INVENTORIES
612 Inventories
6121 Strategic stocks
6122 Other inventories
61221 Materials and supplies
61222 Work in progress
61223 Finished goods
61224 Goods for resale [GFS]
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GOVERNMENT FINANCE STATISTICS
CLASSIFICATION OF VALUABLES
613 Valuables
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GOVERNMENT FINANCE STATISTICS
CLASSIFICATION OF NONPRODUCED ASSETS
614 Nonproduced assets
6141 Land
6142 Subsoil assets
6143 Other naturally occurring assets
6144 Intangible nonproduced assets
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Copyright 2010, The World Bank Group. All Rights Reserved.
GOVERNMENT FINANCE STATISTICS
CLASSIFICATION OF FINANCIAL ASSETS
62 Financial assets
621 Domestic
6212 Currency and deposits
6213 Securities other than shares
6214 Loans
6215 Shares and other equity
6216 Insurance technical reserves
6217 Financial derivatives
6218 Other accounts receivable
622 Foreign
6222 Currency and deposits
6223 Securities other than shares
6224 Loans
6225 Shares and other equity
6226 Insurance technical reserves
6227 Financial derivatives
6228 Other accounts receivable
623 Monetary gold and SDRs
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GOVERNMENT FINANCE STATISTICS
FINANCIAL ASSET CATEGORY DESCRIPTION
• Currency and deposits (6212, 6222, 6312, 6322),
• Securities other than shares (6213, 6223, 6313, 6323),
• Loans (6214, 6224, 6314, 6324),
• Shares and other equity (6215, 6225, 6315, 6325).
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Copyright 2010, The World Bank Group. All Rights Reserved.
GOVERNMENT FINANCE STATISTICS
FINANCIAL ASSET CATEGORY DESCRIPTION
• Insurance technical reserves [GFS] (6216, 6226, 6316, 6326),
• Financial derivatives (6217, 6227, 6317, 6327),
• Other accounts receivable/payable (6218, 6228, 6318, 6328),
• Monetary gold and SDRs (623).
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GOVERNMENT FINANCE STATISTICS
CLASSIFICATION OF LIABILITIES
63 Liabilities
631 Domestic
6312
6313
6314
6315
6316
6317
6318
632 Foreign
6322
6323
6324
6325
6326
6327
6328
Currency and deposits
Securities other than shares
Loans
Shares and other equity (public corporations only)
Insurance technical reserves [GFS]
Financial derivatives
Other accounts payable
Currency and deposits
Securities other than shares
Loans
Shares and other equity (public corporations only)
Insurance technical reserves [GFS]
Financial derivatives
Other accounts payable
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Copyright 2010, The World Bank Group. All Rights Reserved.
GOVERNMENT FINANCE STATISTICS
NET WORTH
• Net worth is the difference between the total value of all assets and the
total value of all liabilities.
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GOVERNMENT FINANCE STATISTICS
MEMORANDUM ITEMS
• It may be desirable to record memorandum items to provide supplemental
information about items related to, but not included on, the balance sheet:
3M1 Own-account capital formation
3M11 Compensation of employees
3M12 Use of goods and services
3M13 Consumption of fixed capital
3M14 Other taxes on production minus other subsidies on production
6M1 Net financial worth
6M2 Debt (at market value)
6M3 Debt (at nominal value)
6M4 Arrears
6M5 Obligations for security benefits
6M6 Contingent liabilities
6M7 International reserves and foreign currency liquidity
6M8 Uncapitalized military weapons and weapon-delivery systems
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GOVERNMENT FINANCE STATISTICS
REFERENCES
The GFS Yearbook Questionnaire on Draft Nonfinancial Public Sector Debt
Tables can be found at:
http://www.imf.org/external/pubs/ft/gfs/manual/templ.xls
Guidelines for responding to the GFS Questionnaire on Draft Nonfinancial
Public Sector Debt Tables can be found at:
http://www.imf.org/external/pubs/ft/gfs/manual//guide.pdf
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